American Express Global Business Travel to be listed on the stock exchange
American Express Global Business Travel, a B2B business travel platform, has announced that it will begin trading as a public company on the NYSE under the ticker symbol of “GBTG” on 31st May 2022. Card giant American Express has a minority stake in the platform.
This move comes following the completion of AEGBT’s previously announced business combination with Apollo Strategic Growth Capital which was approved by the shareholders on May 25th, 2022. The company was closed down with the Company receiving proceeds from cash in trust and PIPE investments, including sizable investments by strategic investors Zoom and Sabre, and new investors Apollo, Ares and HG Vora.
The company works in the B2B travel business which provides software and services to manage travel, expenses, and meetings & events for all verticals of companies in more than 140 nations worldwide.